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According to the latest report by IMARC Group, titled “Biscuits Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global biscuits market size reached US$ 110.7 Billion in 2021. Biscuits are flour-based baked products made using flour, butter, buttermilk, milk, baking soda, baking powder, eggs, and other ingredients. They are generally unleavened, hard and flat with a sweet or savory flavor. Sweet biscuits have a layer of crème, custard, chocolate, or jam filling; however, savory biscuits taste like crackers. Nowadays, biscuits are widely consumed by individuals of all age groups across the globe as a convenient and healthy snacking option.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Biscuits Market Trends:
The market is primarily driven by the growing awareness among individuals regarding the health benefits of biscuits. For instance, the ingredients used in biscuits are a rich source of essential nutrients, including fiber, carbohydrates, and fats. In addition, the shifting consumer preferences toward healthy snacking options represents another major growth-inducing factor. Besides this, the market is further propelled by the introduction of various innovative product variants such as low-calorie, sugar-free, oat-based, nut-based, and high-fiber biscuits. Moreover, key players are making huge investments in aggressive promotional activities to expand their customer base and gain a competitive edge. This, coupled with the increasing consumption of bakery products due to hectic lifestyles, rising disposable incomes, and changing dietary habits of individuals, are positively influencing the market growth. Furthermore, rapid urbanization, technological advancements, and easy product availability through online and offline retail channels are some of the other factors creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 151.7 Billion by 2027, exhibiting a CAGR of 5.10 % during the forecast period (2022-2027).
Market Summary:
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